Question 4 (10 points) Whether a business seeks short-or long-term financing depends on what the money will be used for. Which of the following elements in the table below are correct or incorrect? State you answer as follows: A= Correct, B=Correct, C-Incorrect etc. No. 1 Correct/incorrect Statement Short-Term Financing Needs: Business start-up costs 2 3 Short-Term Financing Needs: Current inventory needs Short-Term Financing Needs: Short-term promotional needs Long-Term Financing Needs: Cash-flow problems Long-Term Financing Needs: New product development 4 6